Vail Resorts to acquire another Swiss ski resort as part of continuing European growth effort
Company says its focused on European acquisitions and reducing its operating footprint
Gabriele Facciotti/AP
Vail Resorts has entered into an agreement to acquire its 42nd ski area, Crans-Montana Mountain Resort in Switzerland, the company announced Thursday.
In a deal that has been in the works for several months, Vail Resorts will purchase an 84-percent ownership stake in Remontées Mécaniques Crans Montana Aminona SA, the company that controls and operates the lifts and supporting mountain operations at Crans-Montana.
The purchase is part of an ongoing growth strategy which is simultaneously focused on both European acquisitions and a reduction of the company’s net-operating footprint, Vail Resorts CEO Kirsten Lynch said in a statement issued Thursday.
“Our acquisition of the resort aligns to our growth strategy of expanding our resort network in Europe, creating even more value for our pass holders and guests around the world,” Lynch said in the statement.
“We share many values with the Crans-Montana community, including a commitment to environmental responsibility and reducing our net-operating footprint,” she added.
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Lynch described Crans-Montana as an iconic ski destination in the heart of the Swiss Alps, with a unique heritage, incredible terrain, passionate team, and a community dedicated to the region’s success.
“We look forward to investing to support the growth, sustainability and vitality of the resort and region,” she said. “We care deeply about the guest experience and are committed to working with the community, listening and learning from local partners and the resort’s dedicated teams.”
Second Swiss acquisition in two years
The Crans-Montana deal marks Vail Resorts’ second Swiss ski area acquisition in as many years, with the company also acquiring Andermatt-Sedrun in 2022.
“Much like Andermatt-Sedrun, we believe Crans-Montana has a unique opportunity for future growth,” Lynch said Thursday.
While Crans-Montana will not be included on Vail Resorts’ Epic Pass for the 2023-24 season, officials announced Thursday that it will be included for 2024-25. The Epic Pass also includes five days at Verbier4Vallées in Switzerland.
Crans-Montana is an approximately 2-hour, 45-minute drive from Andermatt-Sedrun heading southwest on Swiss highways Route 19 and Route 9. Continuing southwest on Route 9, Verbier is another hour and a half from Crans-Montana.
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The Epic Pass also offers seven days at Les 3 Vallées in France, which is about an hour and a half north of Verbier, also taking Route 9.
Route 9 is known to cyclists as “The Lakes Route” in Switzerland, a route that offers “stunning views over water in the Alps and Alpine foothills,” according to the Swiss Confederation’s tourism website schweizmobil.ch. “The Lakes Route takes you on a trip right across picture-postcard Switzerland. From Lac Léman to the Bodensee, passing 10 larger and smaller lakes and offering stunning views over water in the Alps and Alpine foothills.”
Another World Cup/World Championships venue
The news comes as Vail Resorts’ Beaver Creek property hosts its annual Alpine World Cup event, which was — before the Crans-Montana acquisition — the only Alpine World Cup venue in Vail Resorts’ portfolio.
While the Beaver Creek Birds of Prey event is a men’s World Cup competition, this year’s Crans-Montana races are women’s events, consisting of super-G and downhill competitions.
The women’s Alpine World Cup circuit is currently in Canada before heading to Europe next week. The women will race in Switzerland, France, Austria, Slovakia, Italy, Germany and Andorra before heading to Crans-Montana Feb. 14-18.
Crans-Montana will also host the Alpine World Ski Championships in 2027, an every-other-year event that Vail Resorts last hosted in 2015 at Beaver Creek. Crans-Montana officials, in a statement issued Thursday, expressed confidence in Vail Resorts’ ability to pull off a good event in 2027.
“Vail Resorts as new owner of the ski area will also have a positive impact on the organization of the FIS Alpine World Ski Championships in 2027 at Crans-Montana,” the Association of the Municipality of Crans-Montana Board of Directors said Thursday.
Crans-Montana will also host a mountain biking World Cup in 2024, the Union Cycliste Internationale Mountain Bike World Series, slated for June 20-23.
